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Jun 25, 2022
Kraft Heinz Q2 2022 Earnings Report
Delivered solid second quarter results, successfully navigated current environment and advanced long-term strategy
Key Takeaways
Kraft Heinz reported strong price realization and resilient demand in the second quarter of 2022. Net sales decreased slightly, but organic net sales increased by 10.1%. Net income increased significantly due to lower tax expenses and interest expense.
Net sales decreased 0.9 percent versus the year-ago period to $6.6 billion.
Organic Net Sales increased 10.1 percent versus the prior year period.
Net income increased 1,136.4 percent versus the year-ago period to $265 million.
Diluted EPS was $0.21, up 1,150.0 percent versus the prior year period.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company continues to expect strong financial performance in 2022. The Company is raising expectations for 2022 Organic Net Sales to a high-single-digit percentage increase versus the prior year period, as compared to previous expectations of a mid-single-digit percentage increase, reflecting strong performance to date and ongoing business momentum. The Company continues to expect 2022 Adjusted EBITDA to be in the range of $5.8 billion to $6.0 billion, with a 45 percent to 55 percent third quarter to fourth quarter split.
Positive Outlook
- Strong financial performance expected in 2022.
- Raising expectations for 2022 Organic Net Sales to a high-single-digit percentage increase.
- Reflecting strong performance to date.
- Ongoing business momentum.
- Adjusted EBITDA to be in the range of $5.8 billion to $6.0 billion.
Challenges Ahead
- Full year Adjusted EBITDA outlook reflects a 53rd week in 2022.
- Increase in foreign currency headwinds based on current exchange rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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